Global stocks rise as US averts government shutdown

A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Tuesday, Feb. 12, 2019. Asian stocks rose Tuesday following a listless day on Wall Street as investors looked ahead to U.S.-Chinese trade talks. less

A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South ... more

Photo: Lee Jin-man, AP

Photo: Lee Jin-man, AP

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A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Tuesday, Feb. 12, 2019. Asian stocks rose Tuesday following a listless day on Wall Street as investors looked ahead to U.S.-Chinese trade talks. less

A currency trader watches the computer monitors near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South ... more

Photo: Lee Jin-man, AP

Global stocks rise as US averts government shutdown

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BEIJING (AP) — Global stocks rose Tuesday after U.S. lawmakers reached a deal to avoid another government shutdown and ahead of U.S.-China trade talks later in the week.

Market sentiment seems to have been bolstered somewhat by the deal reached in principle late Monday to avoid another bruising shutdown of the U.S. government. Details are set to be officially released Tuesday, but the Trump administration reportedly settled for a lower amount of funding for a barrier with Mexico in order to strike a deal.

The deal also reduces some uncertainty for investors as they focus on the trade war between the U.S. and China.

U.S. Treasury Secretary Stephen Mnuchin will lead a delegation to Beijing on Thursday to discuss American complaints about China's ambitions in the technology sector.

The dispute threatens to chill global economic growth. The talks are the last scheduled high-level meeting before an agreement by both sides to suspend further punitive action against each other's goods expires March 1.

"Investor sentiment remains cautious despite reports suggesting that President (Donald) Trump's advisers are discussing a potential summit with his Chinese counterpart Xi Jinping next month," Zhu Haini of Mizuho Bank said in a commentary.

ENERGY: Benchmark U.S. crude gained $1.05 to $53.46 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 31 cents on Monday. Brent crude, used to price international oils, rose by $1.36 to $62.87 in London. It shed 59 cents the previous session.

CURRENCY: The dollar gained to 110.50 yen from Monday's 110.36 yen. The euro edged up to $1.1285 from $1.1279.